Derek K. Aberle Sells 22,251 Shares of QUALCOMM Incorporated (QCOM) Stock
QUALCOMM Incorporated (NASDAQ:QCOM) President Derek K. Aberle sold 22,251 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $57.59, for a total value of $1,281,435.09. Following the transaction, the president now directly owns 28,959 shares of the company’s stock, valued at approximately $1,667,748.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of QUALCOMM Incorporated (QCOM) opened at 56.33 on Thursday. The company has a market cap of $83.22 billion, a PE ratio of 18.77 and a beta of 1.25. The company has a 50 day moving average of $56.80 and a 200-day moving average of $58.43. QUALCOMM Incorporated has a 52-week low of $50.84 and a 52-week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 19th. The wireless technology company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.29. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. QUALCOMM had a net margin of 19.25% and a return on equity of 21.32%. QUALCOMM’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 earnings per share. Analysts forecast that QUALCOMM Incorporated will post $4.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Wednesday, May 31st were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Friday, May 26th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.53. QUALCOMM’s payout ratio is 76.00%.
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Several equities analysts recently issued reports on the company. Vetr lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 price target on the stock. in a research note on Monday, May 22nd. Stifel Nicolaus boosted their price target on QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 26th. BMO Capital Markets restated a “market perform” rating on shares of QUALCOMM in a research note on Sunday, May 21st. J P Morgan Chase & Co upgraded QUALCOMM from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $50.00 to $68.00 in a research note on Monday, May 22nd. Finally, Zacks Investment Research lowered QUALCOMM from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM has a consensus rating of “Hold” and a consensus price target of $64.53.
Several institutional investors have recently modified their holdings of the company. Massey Quick & Co. LLC purchased a new position in QUALCOMM during the fourth quarter valued at about $105,000. Edmond DE Rothschild Monaco purchased a new position in QUALCOMM during the third quarter valued at about $112,000. Jacobi Capital Management LLC raised its position in QUALCOMM by 11.2% in the third quarter. Jacobi Capital Management LLC now owns 2,467 shares of the wireless technology company’s stock valued at $164,000 after buying an additional 248 shares during the last quarter. FNY Managed Accounts LLC purchased a new position in QUALCOMM during the first quarter valued at about $157,000. Finally, American National Bank raised its position in QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock valued at $162,000 after buying an additional 822 shares during the last quarter. Institutional investors own 77.99% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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